Apple slashes prices of iPhones in China

Apple slashes  prices of iPhones in China

Apple has cut prices for several of its most important products on its official Chinese online store by nearly 6 percent. The price cuts affect products including iPhones, iPads, Macs and AirPods, according to Apple's online store in China.

The price cuts come months after the company blamed a $5 billion to $9 billion revenue shortfall in the fourth quarter of 2018 on lower than anticipated iPhone sales and demand in China, Taiwan and Hong Kong.

Earlier this year, prices on Apple products were lowered on official third-party sellers in China including Tmall and Monday's price cut may be in response to a recent value-added tax cut in China that took affect on April 1. The value-added tax for manufacturers, like Apple, was cut to 13 percent from 16 percent, according to Caixin.

According to Apple's customer service, anybody who has bought an affected product from Apple in China within the past 14 days can receive a refund for the difference in price.